SEC Sues Another Tipper In Galleon Insider Trading Scheme

Law360, New York (November 21, 2013, 5:34 PM EST) -- The U.S. Securities and Exchange Commission filed suit in New York federal court Thursday, accusing a former Marvell Technology Group Ltd. employee of tipping nonpublic information that was used in conjunction with Raj Rajaratnam's giant insider trading scheme and helped generate $680,000 in unlawful profits for Spherix Capital LLC.

According to the complaint, Sam Miri — a former employee in Marvell's communications division — obtained confidential financial information about the company in 2008 and tipped it to Ali T. Far, co-founder of the hedge fund advisory...
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